£350 car allowance

pwinky69

Hi guys,

Im about to start a new job with a £5000 car allowance which I understand is about £350 net a month.

I was think of getting a personal contract plan vehicle to include tax, servicing and tyres etc over 3 years. Was hoping to spend £300 a month all in to leave me the remaining £50 for insurance.

What sort of car could i expect for £300 a mth including VAT doing about 15000 miles a year?

Cheers.

Hintza

Multiply the monthly cost by between 65 -75 and that will give you a rough indication of the value of the car you might get. So it won't be anything too fancy.

pwinky69

So you would think a £16,000 Audi A3 would be within £300 budget?

sheslookinhot

pwinky69 wrote: »

Hi guys,

Im about to start a new job with a £5000 car allowance which I understand is about £350 net a month.

I was think of getting a personal contract plan vehicle to include tax, servicing and tyres etc over 3 years. Was hoping to spend £300 a month all in to leave me the remaining £50 for insurance.

What sort of car could i expect for £300 a mth including VAT doing about 15000 miles a year?

Cheers.

Lower rate tax payer will be £330 /month max. Higher rate tax payer will be will be £250 max

JQ.

Surely £5,000 per annum equates to £290 pcm net.

Gross income per month of £416, then remove income tax at 20% and NI at 11%.

Hintza

http://www.audilease.co.uk/audi/a3/audi-a3.html

Looks like it. (I know nothing about this company so please check them out thoroughly before dealing with any lease company)

sassy_one

I personally would go for a Ford, cheaper to insure and they have some really nice ones on lease

Hintza

sassy-one wrote: »

I personally would go for a Ford,

With their pricing structure?

rsvtoddy

Seems to be a few A3s for less than £300 on Lings Cars but all are the 1.6 petrol. No connection with them but they appear well thought of elsewhere.
HTH

JQ.

. . . or for some real fun motoring how about a brand new Renault Clio Reaultsport 200 Cup on PCP. £1,000 deposit followed by £200pcm for 2 years. An absolute bargain in my eyes for one of the best hot hatches out there.

http://www.lookers.co.uk/new-car-sales/renault-clio-renaultsport-petrol-manual/43945/

opinions4u

You need to get the maths right first.

£5,000 a year minus tax (20%) and NI (11%) is £3,450 / 12 = £287.50 a month.
If it takes you in to higher rate tax then this reduces to £245.83 a month.

I suppose you could add on an amount for what you would usually spend on maintaining a car ...